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Hill City Capital, LP

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13F filer, CIK 1837343, BOSTON, MA

Hill City Capital, LP reported $2,364,787,058 across 22 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-13. Its ten largest share positions make up 82.08% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001837343-25-000009

Period
2025-09-30
Reported value
$2.36B
Holdings
22
Top 10 weight
82.08%
New
4
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
JHXnew+4,218,500$81M
CXadded+6,550,250$58.9M
ATKRnew+728,206$45.7M
WMSnew+150,000$20.8M
WBInew+700,000$17.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
SPRreduced-1,297,206-$50.1M
FSLRreduced-60,000-$13.2M
WEXexited-85,000-$12.5M
ARRYreduced-1,374,035-$11.2M
CRHreduced-51,000-$6.11M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001837343-25-000009, largest first. % of portfolio is the value over $2,364,787,058, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FSLRFIRST SOLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 460,000 shares; 2024Q4: 850,000 shares; 2025Q1: 1,355,000 shares; 2025Q2: 2,150,000 shares; 2025Q3: 2,090,000 shares 2,090,000$461M19.49%-60,000Timeline
MTZMASTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,130,000 shares; 2024Q4: 2,130,000 shares; 2025Q1: 2,145,000 shares; 2025Q2: 2,155,000 shares; 2025Q3: 2,155,000 shares 2,155,000$459M19.39%0Timeline
DYDYCOM INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 679,784 shares; 2024Q4: 849,784 shares; 2025Q1: 969,784 shares; 2025Q2: 1,009,784 shares; 2025Q3: 1,009,784 shares 1,009,784$295M12.46%0Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,097,000 shares; 2024Q4: 1,097,000 shares; 2025Q1: 1,097,000 shares; 2025Q2: 1,097,000 shares; 2025Q3: 1,046,000 shares 1,046,000$125M5.3%-51,000Timeline
GVAGRANITE CONSTR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 978,938 shares; 2024Q4: 1,048,938 shares; 2025Q1: 1,060,048 shares; 2025Q2: 1,110,548 shares; 2025Q3: 1,110,048 shares 1,110,048$122M5.15%-500Timeline
ARRYARRAY TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,265,335 shares; 2024Q4: 14,265,335 shares; 2025Q1: 14,265,335 shares; 2025Q2: 14,265,335 shares; 2025Q3: 12,891,300 shares 12,891,300$105M4.44%-1,374,035Timeline
SPRSPIRIT AEROSYSTEMS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,975,000 shares; 2024Q4: 5,975,000 shares; 2025Q1: 5,975,000 shares; 2025Q2: 3,949,299 shares; 2025Q3: 2,652,093 shares 2,652,093$102M4.33%-1,297,206Timeline
CXCEMEX SAB DE CVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,252,500 shares; 2025Q3: 10,802,750 shares 10,802,750$97.1M4.11%+6,550,250Timeline
IPINTERNATIONAL PAPER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,550,000 shares; 2024Q4: 1,550,000 shares; 2025Q1: 1,800,000 shares; 2025Q2: 1,930,000 shares; 2025Q3: 2,030,000 shares 2,030,000$94.2M3.98%+100,000Timeline
CTRICENTURI HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,030,000 shares; 2025Q3: 3,830,000 shares 3,830,000$81.1M3.43%+800,000Timeline
JHXJAMES HARDIE INDS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,218,500 shares 4,218,500$81M3.43%newTimeline
MMM3M COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 370,000 shares; 2024Q4: 370,000 shares; 2025Q1: 370,000 shares; 2025Q2: 370,000 shares; 2025Q3: 370,000 shares 370,000$57.4M2.43%0Timeline
ENSENERSYSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 657,500 shares; 2024Q4: 277,500 shares; 2025Q1: 317,500 shares; 2025Q2: 447,500 shares; 2025Q3: 467,500 shares 467,500$52.8M2.23%+20,000Timeline
ATKRATKORE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 460,909 shares; 2024Q4: 460,908 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 728,206 shares 728,206$45.7M1.93%newTimeline
ATSATS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,299,857 shares; 2025Q2: 1,224,857 shares; 2025Q3: 1,649,857 shares 1,649,857$43.2M1.83%+425,000Timeline
CNMCORE & MAIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 774,200 shares; 2024Q4: 774,200 shares; 2025Q1: 774,200 shares; 2025Q2: 774,200 shares; 2025Q3: 775,500 shares 775,500$41.7M1.77%+1,300Timeline
BLDRBUILDERS FIRSTSOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,000 shares; 2024Q4: 240,000 shares; 2025Q1: 240,000 shares; 2025Q2: 240,000 shares; 2025Q3: 240,000 shares 240,000$29.1M1.23%0Timeline
WMSADVANCED DRAIN SYS INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 150,000 shares 150,000$20.8M0.88%newTimeline
WBIWATERBRIDGE INFRASTRUCTURE LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 700,000 shares 700,000$17.7M0.75%newTimeline
SITESITEONE LANDSCAPE SUPPLY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 42,250 shares; 2025Q2: 100,250 shares; 2025Q3: 100,250 shares 100,250$12.9M0.55%0Timeline
TFIITFI INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,000 shares; 2024Q4: 145,000 shares; 2025Q1: 145,000 shares; 2025Q2: 145,000 shares; 2025Q3: 145,000 shares 145,000$12.8M0.54%0Timeline
SABRSABRE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,617,000 shares; 2024Q4: 6,617,000 shares; 2025Q1: 4,667,000 shares; 2025Q2: 4,667,000 shares; 2025Q3: 4,667,000 shares 4,667,000$8.54M0.36%0Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
FSLRFIRST SOLAR INC990,000$164Mcall
WEXWEX INC85,000$12.5Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001837343-25-000009 base2025-11-13acceptance time not in the bulk data set